Further extension for renewal of health / motor vehicle insurance policies installments

Further Extension of dates for renewal of health and motor vehicle third party insurance policies installments due to lockdown 

Earlier the Government had extended the installments which were falling due for renewal from 25.03.2020 to 14.04.2020 

MINISTRY OF FINANCE
(Department of Financial Services)

NOTIFICATION

New Delhi, the 15th April, 2020

S.O. 1258 (E).—In exercise of powers conferred by sub-sections (1) and (5) of section 64VB of the Insurance Act, 1938, read with rule 59 of the Insurance Rules, 1939, the Central Government, having regard to the prevailing situation in the country caused due to Corona Virus disease (COVID-19) and consequent extension of lockdown period by further nineteen days starting on and from 15th April, 2020 up to the 3rd May, 2020, hereby amends the order issued vide S.O.1237(E) dated the 1st April, 2020 of the Government of India, Ministry of Finance, Department of Financial Services in the public interest.

In the said notification, in the paragraph for the words beginning with “The policy holders whose motor vehicle third party insurance policies”, and the words ending with “the policy falls due for renewal”, the following paragraph shall be substituted, namely :—

“The policy holders whose motor vehicle third party insurance policies fall due for renewal during the period on and from the 25th March, 2020 up to the 3rd May, 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disease (COVID-19), are allowed to make such payment for renewal of policies to their insurers on or before the 15th May, 2020 to ensure continuity of the statutory motor vehicle third party insurance cover from the date on which the policy falls due for renewal, so that any valid claim triggered during the grace period can be paid.”

2. This notification shall come into force on the date of its publication.

[F. No. 14017/18/2020-Ins-II]

SAURABH MISHRA, Jt. Secy

NOTIFICATION

New Delhi, the 15th April, 2020

S.O. 1259(E).—In exercise of powers conferred by sub-sections (1) and (5) of section 64VB of the Insurance Act, 1938, read with rule 59 of the Insurance Rules, 1939, the Central Government, having regard to the prevailing situation in the country caused due to Corona Virus disease (COVID-19) and consequent extension of lockdown period by further nineteen days starting on and from 15th April, 2020 up to the 3rd May, 2020, hereby amends the order issued vide S.O.1238(E) dated the 1st April, 2020 of the Government of India, Ministry of Finance, Department of Financial Services in the public interest. In the said notification, in place of paragraph 2, the following para shall be substituted, namely:—

In the said notification, in the paragraph for the words beginning with “The policy holders whose health insurance policies”, and the words ending with “on which the policy falls due for renewal”, the following paragraph shall be substituted, namely :—

“The policy holders whose health insurance policies fall due for renewal during the period on and from the 25th March, 2020 up to the 3rd May, 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disease (COVID-19), are allowed to make such payment for renewal of policies to their insurers on or before the 15th May, 2020 to ensure continuity of the health insurance cover from the date on which the policy falls due for renewal, so that any valid claim triggered during the grace period can be paid.” 2. This notification shall come into force on the date of its publication.

[F. No. 14017/18/2020-Ins-II]

SAURABH MISHRA, Jt. Secy

Earlier Notifications were as under:

MINISTRY OF FINANCE
(Department of Financial Services)

NOTIFICATION

New Delhi, the 1st April, 2020

S.O. 1237(E).—In exercise of powers conferred by sub-sections (1) and (5) of section 64VB of the Insurance Act, 1938, read with rule 59 of the Insurance Rules, 1939, the Central Government, having regard to the prevailing situation in the country as a result of Corona Virus disease (COVID-19), lockdown period of twenty-one days starting on and from 25th March, 2020 upto the 14th April, 2020 and in the public interest, hereby directs as under:-

“The policy holders whose motor vehicle third party insurance policies fall due for renewal during the period on and from the 25th March, 2020 upto the 14th April, 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disease (COVID-19),are allowed to make such payment for renewal of policies to their insurers on or before the 21st April, 2020 to ensure continuity of the statutory motor vehicle third party insurance cover from the date on which the policy falls due for renewal.”.

2.This notification shall come into force on the date of its publication.

[F.No.14017/18/2020-Ins-II]

VANDITA KAUL, Jt. Sec

NOTIFICATION

New Delhi, the 1st April, 2020

S.O.1238(E).—In exercise of powers conferred by sub-sections (1) and (5) of section 64VB of the Insurance Act, 1938, readwith rule 59 of the Insurance Rules, 1939, the Central Government, having regard to the prevailing situation in the country as a result of Corona Virus disease (COVID-19), lockdown period of twenty-one days starting from 25th March, 2020 to the 14th April, 2020 and in the public interest, hereby directs as under:-

“The policy holders whose health insurance policies fall due for renewal during the period on and from the 25th March, 2020 to the 14th April, 2020 and who are unable to make payment of their renewal premium on time in view of the prevailing situation in the country as a result of Corona Virus disease (COVID-19),are allowed to make such payment for renewal of policies to their insurers on or before the 21s tApril, 2020 to ensure continuity of the health insurance cover from the date on which the policy falls due for renewal.”.

2.This notification shall come into force on the date of its publication.

[F.No.14017/18/2020-Ins-II]

VANDITA KAUL, Jt. Secy

MINISTRY OF FINANCE
(Department of Financial Services)

NOTIFICATION

New Delhi,the 1st April, 2020

G.S.R.229(E).—In exercise of powers conferred by sub-sections (1) and (5) of section 64VB of the Insurance Act,1938,the Central Government hereby makes the following rules further to amend the Insurance Rules, 1939, namely:-1. (1) These rules may be called the Insurance (Amendment) Rules, 2020. (2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Insurance Rules, 1939, in rule 59, after clause (n), the following clauses shall be inserted,namely:-

“(o) Motor vehicle third party insurance policies.-In the case of renewal of motor vehicle third party insurance policies falling during the period of lockdown due to outbreak of COVID-19 pandemic, the risk may be assumed subject to the condition that the abcaus.in premium shall be paid within such time as the Central Government may, by notification, specify in this behalf;

(p) Health insurance policies.-In the case of renewal ofhealth insurance policies falling during the period of lockdown due to outbreak of COVID-19 pandemic,the risk may be assumed subject to the condition that the premium shall be paid within such time as the Central Government may, by notification, direct in this behalf.”.

[F.No.14017/18/2020-Ins-II]

VANDITA KAUL,Jt.Secy.

Note:The principal rules were published in the Gazette of India vide notification number 59-1(1)/38, dated 3rd June, 1939 and was subsequently amended abcaus.in vide number G.S.R. 867, dated the 28th June, 1961, number G.S.R. 45, dated the 18th December, 1965, number G.S.R. 401, dated the 26thFebruary, 1976, number S.O. 961(E),dated the 24th March, 1992 and number dated the 24th June, 2003.

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